JLL Falcon kicks off new era of AI-powered CRE innovation

Rhea-AI Summary

JLL (NYSE: JLL) has launched JLL Falcon, an advanced AI platform designed to transform commercial real estate (CRE). This proprietary platform combines JLL's extensive data with generative AI models to deliver revenue-generating and cost-saving insights. The platform will enhance JLL GPT™, their first CRE-specific AI assistant launched in August 2023, which has already been used by over 47,000 JLL professionals. JLL GPT™ now features improved capabilities, including image understanding and 25 times more working memory than its initial version.

Positive

• Successful adoption of JLL GPT™ with over 47,000 professionals utilizing the tool
• Enhanced capabilities of JLL GPT™ with 25x more working memory
• Development of proprietary AI platform potentially leading to new revenue streams
• Integration of advanced technology with existing business operations for improved efficiency

Negative

• None.

Proprietary purpose-built AI platform for CRE will leverage the best of human and machine learning, generating insights for employees and clients

New platform will enable significant enhancements for JLL GPT™

CHICAGO, Oct. 29, 2024 /PRNewswire/ -- JLL (NYSE: JLL) today announced the launch of its artificial intelligence (AI) platform, JLL Falcon, designed to accelerate the digital transformation of the commercial real estate (CRE) industry. The new platform is a cutting-edge set of AI-enabled software services that combines JLL's vast and comprehensive proprietary data with generative AI models to deliver timely, revenue-generating and cost-saving insights, as well as maximize returns. This revolutionary platform for the CRE industry will chart the future course for JLL's AI journey.

"JLL Falcon will serve as the foundation for the continued innovation of products and services that help shape the CRE industry," said Mihir Shah, CEO, JLL Technologies. "The platform combines JLL's extensive expertise with some of the most advanced technology available today, transforming how we work and paving the way to deliver enhanced outcomes for the benefit of our people and our clients."

Featuring multi-modal AI foundation models, data pipelines, security and privacy features, natural language and semantic processing layers and advanced analytics capabilities, JLL Falcon will power a wide range of CRE applications, including custom assistants. Additionally, the platform's open architecture seamlessly blends best-in-class internal and external technologies to streamline JLL's approach to researching opportunities, extracting and analyzing complex data and delivering trustworthy, actionable insights.

JLL Falcon will also power the next iteration of JLL GPT™, the first generative AI assistant purpose-built for the CRE industry, which, since being introduced in August 2023, has provided JLL's entire workforce with the capability to create specialized insights based on curated datasets to deliver better client outcomes.

"We've had great success putting game-changing AI capabilities into the hands of our CRE professionals, to augment and amplify their unmatched expertise," said Yao Morin, JLL's Chief Technology Officer. "JLL Falcon will build on what we've already achieved and unlock even more custom, AI-enabled solutions that help shape the future of real estate for a better world."

Since launching JLL GPT™ last year, JLL has seen rapid adoption rates across both technical and non-technical roles. More than 47,000 JLL professionals have already used the tool to provide more creative, customized solutions for clients. Most recently, JLL GPT™ has gained powerful new capabilities such as image understanding, an enhanced knowledge base and 25 times more working memory than its inaugural version.

JLL's approach to AI is driven by the people who build, sell, invest, operate, manage and inhabit space. As generative AI is expected to revolutionize the commercial real estate industry, JLL is poised to lead the sector into the next stage of transformation, with new solutions slated to launch later this year.

To learn more about how JLL is delivering AI innovations to influence the future of CRE, read more here.

About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500^® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Contact: Jesse Tron 
Phone: +1 212-376-1215 
Email: Jesse.Tron@JLL.com 

 

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SOURCE JLL-IR

FAQ

What is JLL Falcon and when was it launched?

JLL Falcon is JLL's new AI platform launched on October 29, 2024, designed to accelerate digital transformation in commercial real estate by combining proprietary data with generative AI models.

How many JLL professionals have used JLL GPT™ since its launch?

Over 47,000 JLL professionals have used JLL GPT™ since its launch in August 2023.

What new capabilities does the enhanced JLL GPT™ include?

The enhanced JLL GPT™ includes image understanding capabilities, an enhanced knowledge base, and 25 times more working memory than its initial version.

What is the main purpose of JLL Falcon platform?

JLL Falcon is designed to deliver timely, revenue-generating and cost-saving insights, maximize returns, and power various CRE applications, including custom assistants.